Salasar Techno IPO opens on 12 July 2017 and closes on 17 July 2017. Photo: iStock

Jaipur: Infrastructure firm Salasar Techno Engineering on Wednesday said its initial public offer (IPO) to raise Rs35.86 crore will open on 12 July and close on 17 July.

The public issue comprises 33.21 lakh equity shares of face value of Rs10 each fully paid for cash at a price of Rs108 per equity share aggregating Rs35.86 crore, according to the draft papers.

The issue opens on 12 July 2017 and closes on 17 July 2017, Salasar Techno chairman and MD Alok Kumar said in a press conference here today.

Kumar said the company has posted excellent financial results with revenues increasing from Rs310 crore in FY 2016 to 384.29 crore for FY 2017 and net profits going up from Rs11.04 crore to Rs20.74 crore in the same period on consolidated basis.